#TopCoinsSeptember2024
Shiba Inu (SHIB) is set to gain 150% in 2024. However, between December 10 and 16, the memecoin’s trading volume decreased by $2.80 billion.
This movement coincides with the 10% drop recorded last week. So, will SHIB experience a prolonged decline?
Interest in Shiba Inu falls from last week’s highs
On December 10, Shiba Inu’s trading volume was $3.58 billion. Typically, an increase in volume indicates growing investor interest and increased market liquidity. In most cases, this is seen as a good sign. Therefore, it was not surprising that the increase in volume coincided with the memecoin’s price recovery to $0.000030.
However, by the time of writing, the volume had dropped to $708 million, suggesting less investor interaction with SHIB. Therefore, if the metric continues to decline, the price could fall below $0.000027 in the near term.$SHIB